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LSDefine

Simple English definitions for legal terms

clearings

Read a random definition: ex assensu curiae

A quick definition of clearings:

Clearings: When you write a check or use your debit card, the money goes from your bank to the other person's bank. Clearings are the process of making sure the money gets to the right place. Banks use a clearinghouse to exchange checks and settle their balances. It's like a big meeting place for banks to make sure everyone gets paid the right amount. Clearings can also refer to a place where people exchange information or a stock-and-commodity exchange where brokers do their daily transactions.

A more thorough explanation:

Definition: Clearings refer to checks or other items that are drawn on a local bank and presented for payment through a clearing-house or directly to the drawee bank.

For example, if you write a check to pay for something, the person or business you wrote the check to will deposit it into their bank account. The bank will then send the check to your bank for payment. This process of exchanging checks and settling balances between banks is called clearing.

Clearinghouse is a place where banks exchange checks and drafts and settle their daily balances. It can also refer to a stock-and-commodity exchange where brokers' daily transactions are cleared. Additionally, it can be any place for the exchange of specialized information.

For instance, the New York Stock Exchange is a clearinghouse for stock transactions. It facilitates the exchange of stocks between buyers and sellers and ensures that the transactions are settled correctly. Another example is the National Student Clearinghouse, which is a nonprofit organization that provides educational verification and enrollment services to colleges and universities.

clearing loan | clearly-erroneous standard

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Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
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